Medical marijuana companies in Denmark attracted external capital of more than 1.5 billion Danish krone ($217 million), including founders’ own investments, which works out to an average of $6 million per business.
Cannabis producers are among the least reputable corporations in the eyes of Canadians – ranking alongside petroleum companies and others – largely because they remain unknown to the general public, according to a new survey measuring the reputations of nearly 300 businesses operating in Canada.
Aurora Cannabis eked out a third consecutive quarter of revenue growth on the back of rising medical sales, but the Alberta-based licensed producer still reported a loss of 75.1 million Canadian dollars ($59 million) in its second quarter.
Analysts have slashed hundreds of millions of dollars off their 2022 sales forecasts for three Canadian cannabis producers, reflecting an increasingly competitive landscape across the adult-use industry, falling overall prices and poor execution by some executive teams.
Thousands of Canadian marijuana industry workers have lost or left their jobs since early 2020, even as their employers received more than $140 million Canadian dollars ($112 million) in federal subsidies to retain or rehire employees amid the pandemic, an MJBizDaily analysis has found.
Canadian cannabis producer Tilray has seen around one-third of its market share in Canada evaporate since it merged with Aphria in May, new data suggests, while rival Auxly Cannabis Group has more than doubled its position over the same period.